C34—Lancaster Farming, Saturday, February 16,1980 Record soybean supplies put pressure on prices WASHINGTON, D.C. - U.S. soybean supplies this marketing year total a record high 2.44 billion bushels, 20 percent more than in 1970-79. According to the U.S. Department of Agriculture, total soybean use is expected to expand on ly eight percent to 2.0 billion bushels, so carryover stocks next September may rise to around 440 million bushes - 2.5 times greater than the September 1979 carryover and a new high. Summarizing the Fats and Oils Situation, economics with USDA’s Economics, Statistics, and Cooperatives Service said that the large excess of supply over poten tial demand resulted in downward pressure on soy bean prices. Prices received by Del. slates wood stove seminar NEWARK, De, Because more people in Delaware are using wood as fuel, and are concerned about the fire hazards and many other aspects of wood burning, a wood stove safety seminar is scheduled for Thursday, February 21, at 7 p.m, in the Millcreek Volunteer Fire Hall, located at 3900 Kirk wood Highway, Wilmington, Del. The seminar is designed for interested consumers, especially wood burners and those thinking about using wood as a primary or sup plemental source of heat. Program topics will in clude basic considerations for the new or future wood burner, safe wood stove installation and operation, wood as a fuel, chimney maintenance, and other fire safety considerations. A wood stove retailer, fire safety instructor, energy official, forester, insurance representative, building pat* MAN MARVIN J. HORST 1950 S. sth Ave., Lebanon, PA 717-272-0871 FOR BEST RING-DRIVE SILO UNLOADER farmers for soybeans declin ed from $6.35 per bushel m October to $6.06 in mid- January, about 50 cents below January 1979. Soybean prices have recovered since the Jan. 4 suspension of agricultural exports to the USSR. But if the 1980 South American soy bean crops come m at the projected record 19 million metric tons (30 percent more than in 1979), prices may be under pressure again during the spring and summer. World soybeans supplies will be large relative to expan ding demand. U.S. soybean crushings this season are running nine percent ahead of the 1978-79 pace and are expected to ap proximate 1.1 billion bushels for the entire marketing year. The December 1979 crush ' inspector, and chimney sweep will share their concern in regards to wood burning. There also will be wood stove exhibits. The event is sponsored by the Cooperative Extension Service in cooperation with the Millcreek Volunteer Fire Company, the Delaware State Fire School and Delaware Department of Agriculture. There is no admission charge, but those desiring additional information are asked to call 302/73&-2506. q\ Looking For (f THE UNUSUAL? p) Find It M InThe % CLASSIFIEDS. 3^ ■Jk* i hit a record 104 million bushesl which utilized more than 90 percent of the in dustry’s processing capaci ty. Increased crushings reflect relatively favorable processing margins, larger hog and poultry production, and heavier soybean meal feeding because of slightly lower meal prices. Soybeans inspected for ex port are running four per cent ahead of last season, and for all of 1979-80 may total about 0.8 billion bushels. USDA’s planting inten tions survey as of January 1 indicated that about 71.5 million acres of soybeans will be seeded in 1980, about the same as in 1979. However, since the prospec tive plantings survey was made prior to the Presi dent’s partial suspension of gram shipments to the USSR, many farmers may alter their final planting decisions. Even so, soybean supplies in 1980-81 probably will be record high mainly because of the record-large carryover expected next fall. Cottonseed production for the current crop year is estimated at 5.8 million short tons, about 36 percent more than m 1978/79. The sharpest increases were in Texas and Califomia-these two States accounted for 62 per cent of total production and 85 per cent of the 1% million-ton gain over last year. Crushing capacity may not be adequate to process the big cottonseed crops in the Southwest and Far West, resulting m a sharp increase in carryover stocks next August 1 - possibly doubling last year’s 0.5 million tons. Cottonseed crushings so far this marketing year are fagging year-ago levels by 13 per cent while seed stocks at mills are up over 40 percent. Prices received by farmers declined from $125 per ton m October to $ll3 in January. Sunflowerseed supplies are estimated at 3.6 million metric tons, about 90 percent more than in 1978-79. Domestic use is projected at 0.7 million metric tons and exports may rise 50 per cent from last year’s 1.4 million tons, leaving carryover stocks of sunflower next September a record - around three-quarters of a million tons. Exports are running about the same as a year ago and are expected to pickup, while crushings are up 59 per cent. Heavy supplies pushed prices received by farmers down from about 9.5 cents per pound in October to below 9 cents m mid- January, sharply below year-ago levels. Although Jan. 1 planting intentions in dicated that 1980 sunflower acreage will decline about 10 per cent from last year’s 5.8 million acres, actual acreage may be higher smce prices have shown some recovery since mid-January. Total production of fats and oils this marketing year PARS SOIL SERVICE has a new solution TO AN OLD PROBLEM. (LIQUID CALCIUM SOLUTION) For Correction of Calcium Deficiency in Crops BULK DELIVERY AVAILABLE I ON YOUR FARM | For Information Call: PARS SOIL SERVICE Box 488, RDI Elizabethtown, PA TOiirW 717-367-2667 or 717-872-7342 EARLY PAYMENT DISCOUNT AVAILABLE likely will exceed 17 million tons - about one-fifth more than in 1978-79 - primarily due to larger edible vegetable oil production and lard. Domestic use of fats and oils is running 2 per cent ahead of the 1978-79 pace and for all of 1979-80 probably will fall well below last year’s above-trend growth rate of eight per cent.
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